PR Newswire | Feb 11, 2021 08:02AM EST

02/11 07:00 CST

MIND Technology, Inc. To Provide Seismic Source Controllers THE WOODLANDS, Texas, Feb. 11, 2021

THE WOODLANDS, Texas, Feb. 11, 2021 /PRNewswire/ --MIND Technology, Inc. (NASDAQ: MIND) ("MIND" or "the Company") today announced that its Seamap unit has entered into a memorandum of understanding ("MOU") with an international seismic exploration company to provide two GunLink 4000 systems and associated equipment and spares. It is anticipated that these orders, which have an aggregate value in excess of $5.0 million, will be completed in MIND's fiscal year ending January 31, 2022.

Guy Malden, MIND Co-CEO, commented, "We see this as another example of improving activity within the marine exploration market. This and other recent activity, in our opinion, is further confirmation that our GunLink has become the clear preference for seismic source controller technology."

About MIND Technology

MIND Technology, Inc. provides technology to the oceanographic, hydrographic, defense, seismic and security industries. Headquartered in The Woodlands, Texas, MIND has a global presence with key operating locations in the United States, Singapore, Malaysia, and the United Kingdom. MIND's worldwide Marine Technology Products segment, which includes its Seamap and Klein Marine Systems units, designs, manufactures and sells specialized, high performance, marine sonar and seismic equipment.

Contacts:Rob Capps, Co-CEO

MIND Technology, Inc.

936-291-2277



Ken Dennard / Zach Vaughan

Dennard Lascar Investor Relations

713-529-6600

MIND@dennardlascar.com

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SOURCE MIND Technology, Inc.